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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Office buildings
1835 1st St, Cheney, WA 99004-1966
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1790194
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
STEEL FRAME
Total area
1,528 SF
Lot
0.06 ac (2,500 SF)
APN
23073.0001
UPID
US90-1790194
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$605k
Owner & transaction history
Collins Professional Proeprties LLC · 1 yrs held
Collins Professional Proeprties LLC
since 2025
Last sale
$560,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cheney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheney submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$655,000
ML approach
$645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$365,000
Current use
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $560k (Apr 9 2025)
Last sale anchor
$560k
Apr 9 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$396 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,113
Tax year 2023
Assessed value
$132,000
Assessed 2024
Previous assessed
$131,500
+0.4% YoY
Effective rate
0.84%
On assessed value
Assessed land
$12,500
Assessed improvement
$119,500
Land market value
$12,500
Improvement market value
$119,500
Total market value
$132,000
Applied tax rate
110.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1980
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
0
Total area
1,528 SF
Lot
0.06 ac (2,500 SF)
APN
23073.0001
UPID
US90-1790194
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$365,000
OFFICE BUILDING Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
0
Lot
0.06 ac
Current owner
From public records · entity-resolved
Collins Professional Proeprties LLC
Entity
Mailing address
1841 1ST ST, CHENEY, WA 99004-1966
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2025
$560,000
Collins Professional Proeprties LLC
Kenneth Collins
Warranty Deed
$980,000 · Numerica Cu
Sep 4, 2007
—
Collins Rental Properties LLC
—
Trustees Deed
related
$141,974 · Banner Bank
—
—
Collins Rental Properties LLC
—
Deed Of Trust
related
$215,402 · Banner Bank
—
—
Kenneth M Collins
—
Deed Of Trust
related
$300,000 · Farmers & Merchants Bk Rockfor
—
—
Kenneth M Collins
—
Deed Of Trust
related
$600,000 · Farmers & Merchants Bk Rockfor
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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